Tag Archives: black money

Note on declaring undisclosed cash deposit under PMGKY 2016

Circular No.43 of 2016 F.No. 142/33/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated: 27th December,2016 EXPLANATORY NOTES ON PROVISIONS OF THE TAXATION AND INVESTMENT REGIME FOR PRADHAN MANTRI GARIB KALYAN YOJANA, 2016 AS CONTAINED IN CHAPTER IX-A OF THE FINANCE …

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How black money is converted into white money

This article is in continuation to my previous articles on Black money. Can this government bring back the so-called ‘black money’ stashed abroad?  Can this government tighten the noose on black money offenders within the country?  Not sure. But the only silver lining in the latest development is that the …

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My recommendations to curb black money in India.

For the time being, let’s forget the recommendations done by SIT. I have some recommendations to make! If my recommendations are implemented, the government can block many black money generating avenues! Please read and comment whether my suggestions make sense or not! You may disagree with me, but it is …

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Draft Proposals for Facilitating Electronic Transactions

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement: “One way to curb the flow of black money is to discourage transactions in cash. Now that a majority of Indians has or can have, a RUPAY debit card. I therefore, propose to introduce …

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Benami Transactions Bill

Is this the brain child of Modi government? The answer is NO. Benami Transactions (Prohibition) Act was enacted in 1988. Actually, it was in 1973 that the Law Commission of India recommended to formulate an Act to curb Benami Transactions! So, it took 15 years for the government to make …

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The tail end of Black Money tale

How much is it? ‘Rs.14,000 Crores’; that’s all? But many ‘experts’ were estimating the money stashed at Swiss bank at around Rs.1,00,000 Cr. Some of them have estimated it to be Rs.25,00,000 Cr. I saw a document released a year before about Black Money (BM) and there the expert researchers …

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